In this clip from THE PITCH, we give you an inside look at how a research analyst's high-conviction stock idea becomes a manager's winning position.
Watch below as Financials analyst Josh Steiner pitches Hedgeye CEO Keith McCullough on Paya Holdings (PAYA), Steiner's new 'Best Idea' Long position.
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Steiner: “Bigger picture, you basically have a steady growth company operating in a segment of the payments market that is really kind of a sweet spot right now. It’s the middle market. It’s far less contested that either the enterprise scale or the small business segment.
There is a really interesting M&A component to this story in both directions. They are doing these great small tuck-in accretive acquisitions, but at the same time the whole space is consolidating very rapidly. We think that trend is going to continue over the next few years.
But what do these guys do? Basically they are an integrated payment processing solution.
That means that their real customers are middle market software companies. They basically integrate their payment capabilities into the software platforms that are then sold to businesses.”
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